SYDNEY, Dec 19 (Reuters) – Consumer confidence in New Zealand rose in December to its highest level in more than four years, with card spending data showing a lift in discretionary spending, ANZ-Roy Morgan data showed on Friday.
The consumer confidence index jumped to 101.5 in December from 98.4 in November. A reading above 100 shows optimism, while below that indicates pessimism.
ANZ Chief Economist Sharon Zollner said in a statement that mortgage holders were more keen to spend as interest rates had cycled.
“It will be interesting to see in January whether the recent change in direction in interest rates affects this sentiment, or whether the (central bank governor’s) reassuring words about interest rates staying low for a considerable period … see willingness to spend continue to lift,” Zollner said.
(Reporting by Renju Jose in Sydney; Editing by Franklin Paul)
